Lloyds Banking Group today announced that it is seeking alternatives to the Government Asset Protection Scheme (GAPS) and is looking into other ways of raising money outside the state-sponsored toxic assets scheme.

Currently the British government has a 43 per cent stake in Lloyds, but involvement in GAPS could mean this rises to above 50 per cent.

The company is considering its options following the EU’s decision to accept the government break-up of Northern Rock, and is currently in discussions with Treasury and Financial Services Authority (FSA) Officials.

One possibility being mooted is that the bank will issue new shares.

Lloyds Banking Group’s decision to look for additional finance could provide a boost to future places on its banking graduate schemes.

In the current economic climate, good careers advice and professional qualifications can help candidates secure jobs in financial services.

In November 2008, Lloyds Banking Group was formed when Lloyds TSB took over HBOS, with the new name being applied in January.

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